Many people think that becoming rich means getting lucky. However, while this is definitely the case for those with family money or the rare individuals that happen to win the lottery, a large portion of wealth accumulation is actually the result of making thousands of small, intelligent financial decisions compounded over time. A penny saved today is worth a dollar tomorrow and all that jazz. Another large portion of it comes down to simple mental and behavioral changes.
In other words, if you want to become rich, you are going to have to start thinking and behaving like a rich person would.
That’s why we’ve created this list of the top ten habits that rich people follow. It’s basically a “fake it until you make it” thing. Adopt these ten habits into your life today and you will be almost guaranteed to have a better tomorrow.
1. Write it down.
One of the top secrets for accumulating money is to make a plan and stick to it. It’s easier said than done, but writing down your goals can help to cement them in your mind and make them more concrete. You’ll be much more secure trying to stick to a plan that you have committed to paper versus one that involves vague ideas that are still floating around in your head.
In addition, this means keeping a planner and making daily to-do lists. It’s just as important to write down your immediate goals for the day as it is to record your long term ones.
2. Talk less and listen more.
Everyone loves talking about themselves, but how often do you meet someone that truly knows how to listen? Listening is one of the most crucial parts of communication, yet most people are pretty bad at it. Developing it as part of your skillset is something that will definitely set you apart from the crowd.
It’s also one of the best ways to begin a business. When trying to come up with a new product or service idea, instead of guessing what the market wants, try just listening to people. Most will be very eager to tell you what they need in their life and what they would like to change about it.
3. Take care of yourself.
No one is going to look out for you like you, and if you want to be successful, you have to make yourself a priority in your life. You’re also going to need a clear mind. This means supplying your body with healthy food, exercising regularly, sleeping sufficiently, etc.
When you do finally cross the finish line, you are going to want to be healthy enough to be able to enjoy the fruits of your labor. Trying to juggle too much at once or taking shortcuts with your health in order to get ahead is more often than not just going to result in crashing and burning.
4. Get outside.
Sitting at the desk all day is a great way to work your way into an early grave. Many successful people find that their greatest inspiration actually comes from forcing themselves to get outside of the office.
Instead of inviting clients to the cubicle farm or having another routine meeting inside, try setting up shop in a local coffee shop or park for the day. There is a whole world out there to learn from and you are going to grow much more as a person in the long run by actually going out to interact with it.
5. Read more books.
Reading is probably the number one most talked about habit that pretty much all successful people partake in. Really, if there is one habit we would recommend over all the others, it’s this one. It’s time to turn off the TV, folks.
According to Tom Corley, the author and researcher behind Rich Habits: The Daily Success Habits Of Wealthy Individuals, wealthy people almost always opt for reading over consuming TV shows and movies. How much reading is enough? While there is no set answer, studies show that 88% of rich people read for at least 30 minutes per day.
6. Surround yourself with positive influences.
“You are the average of the five people you spend the most time with,” says famous entrepreneur Jim Rohn. It’s something we’ve all heard before. Choose your friends wisely, the old saying goes. Yet, how many of us actually follow through on that advice?
Ditching the negative influences in your life for more positive ones is not easy to do, but it’s a choice than can end up paying big dividends down the road. Surrounding yourself with other successful people on the same path as you is a great way to hold yourself accountable and will help to inspire you to keep going when times get tough.
7. Value your time.
While money is definitely a big part of the wealth equation, it’s a good idea to keep in mind that it’s not everything. In fact, it can be argued that what’s even more important than dollar signs is time. It’s one of your most valuable assets and you have to be so careful how you spend it.
Instead of wasting time playing video games or doing other unproductive things like drinking, wealthy people use their time for activities that will actually benefit them in the long run. Eliminate all that wasted time from your life and try using the extra hours instead to attend networking events, hit the gym, or take some new classes.
8. Seek out passive income.
While we’re on the subject of time, one way to free up more of it is to find a source of passive income. The truly rich are those who are making money constantly, even while they’re sleeping.
Whether that means starting some sort of side business, getting into the stock market, or investing in real estate, the choice is yours. However, almost all wealthy individuals have some sort of way of making additional cash that doesn’t involve their active participation. You need to always be on the lookout for these sorts of opportunities.
9. Leave your work at work.
Part of being successful is being willing to put the work in. That doesn’t mean that you have to give up on everything else that makes life enjoyable though. Having a clear divide between work life and home life will not only help you to prevent exhaustion but will also cause you to be a whole lot more energized and focused when you actually are working.
You want to adopt a strategy that will keep you moving towards your goals, without sacrificing your mental health or sanity along the way.
10. Always be learning.
Rich people know that the minute you think you have everything figured out is the minute that everything comes crashing down. Always strive to be educating yourself and learning new things.
Whether that means taking classes, attending lectures, or even just listening to podcasts here and there to stay on top of current events and industry news, the idea here is that you are always doing something. The world is constantly changing and you don’t want to get left behind.
If you want to get rich, changing your habits is certainly a great place to start and these are the rules that rich people follow. Adopt these 10 habits of successful people into your life and it won’t be long before you too find yourself among the ranks of the elite and successful.
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11. Rise early.
After all, you can’t make money if you don’t get out of bed!